Supplier Onboarding
How to Create the Ultimate Supplier Onboarding Process

How to Create the Ultimate Supplier Onboarding Process Developing relationships with new suppliers can be challenging. It is possible to lose valuable business and sacrifice profit margins without a clear system in place for onboarding and developing these partnerships. A smooth start to your partnership can be achieved by onboarding your suppliers before you begin

The Ultimate Supplier Onboarding Process

The Ultimate Supplier Onboarding Process The process of establishing new supplier relationships can be complex. Your business may be at risk of losing valuable business if you do not have a clear system in place for onboarding and developing these partnerships. In order to start working together successfully, you should onboard your suppliers prior to

Supplier Management Software Dashboard
What is Supplier Management

What is Supplier Management Supplier management ensures that an organization receives the best value from its suppliers. An organisation’s smooth running depends on these suppliers, so it’s important for both suppliers and organizations to work together properly. A comprehensive supplier management policy ensures that the organization establishes a relationship with its suppliers, manages its requirements, and

Supplier selection Procurement
How To Choose Suppliers For Your Business

How To Choose Suppliers For Your Business Supplier selection criteria A company’s success depends heavily on its suppliers. It is essential for businesses to take into account a number of critical factors when finding the right ones, such as: Price Value for money Quality Reliability Values Responsiveness Flexibility Financial Stability You should focus on what your

Supplier Selection & Evaluation – How To Find The Right Suppliers

Supplier Selection & Evaluation – How To Find The Right Suppliers It is important for your business to be able to source top quality raw materials and services at a competitive price and with the assurance that they are being produced in a reliable manner so your company can succeed in today’s competitive market. This

Best Practices for Supplier Management

Best Practices for Supplier Management Managing suppliers is an essential component of a business’ procurement process. Done well, it can turn you into a company superstar. Poor management, however, can add more stress to the situation. A poor supplier management can result in several issues, including: A missed opportunity to save Supplier performance problems due

Direct vs. Indirect Procurement: What’s the Difference?

Direct vs. Indirect Procurement: What’s the Difference? Essentially, procurement involves acquiring the supplies every organisation needs to function day-to-day. When you get into the details, you start to bring in all the supporting factors that make procurement work. The procurement process can be broken down neatly into two niches—direct and indirect procurement. Despite the fact that

The Ultimate Supplier Performance Evaluation Checklist

The Ultimate Supplier Performance Evaluation Checklist Table of Contents Steps To Evaluate Suppliers The success of your business depends on the performance of your suppliers. A poorly performing supplier can negatively affect your bottom line and even put your company at risk. That’s why it’s important to evaluate your suppliers regularly. We will provide you

Identifying The Risks Associated With a New Supplier Relationship

Identifying The Risks Associated With a New Supplier Relationship The concept of supplier relationship management isn’t necessarily new, but it needs to be better formalised in the current economic climate Rather than being a transactional interaction involving a contract kept in a filing cabinet until renewed, a recent report by GEP states that vendor-supplier relationships are by necessity becoming

Supplier Relationship Management
A Complete Guide To Supplier Relationship Management

A Complete Guide To Supplier Relationship Management There is a number of ways an organization can manage its supplier relationships, from determining how each supplier contributes to its success to developing strategies that will help them perform more efficiently. Supplier relationship management (SRM) is a systematic approach to evaluating vendors that provide goods, materials, and

The Complete Supplier Compliance Process

The Complete Supplier Compliance Process Any successful interaction within procurement, whether internal or external, depends on smart relationship management. The requirement for an efficient and effective vendor compliance program is non-negotiable when it comes to reducing costs and building strong, mutually beneficial relationships with your vendors. By drafting and implementing a comprehensive vendor compliance policy,

The Ultimate Guide To Successful Supplier Lifecycle Management

The Ultimate Guide To Successful Supplier Lifecycle Management A successful collaboration requires a thorough understanding of every aspect of the supplier. Supplier lifecycle management involves managing these aspects.  By ensuring quality throughout the cycle, supplier lifecycle management enables companies to identify the right suppliers and get better value. Below are the most important phases of

The Benefits, Processes, And Best Practices Of Supplier Management

The Benefits, Processes, And Best Practices Of Supplier Management Business processes have been dramatically impacted by globalization, which has created a more dynamic, competitive, and complex environment for today’s businesses. As a result, every organization relies on suppliers to provide goods and services in order to successfully operate. Managing suppliers is of paramount importance for any

Supply Management
What Is Supplier Management?

What Is Supplier Management? Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a key factor in a

Measuring supplier performance
How To Measure Supplier Performance

How To Measure Supplier Performance? Having run a competitive tender process, negotiated a good deal, signed the contract, and implemented a new supplier took a lot of time and effort. Some people consider this to be the point where the procurement process ends and the supplier is just left to deliver the goods or services.

supplier compliance
How To Ensure Your Suppliers Are Compliant

How To Ensure Your Suppliers Are Compliant It is the responsibility of every company to adhere to laws and regulations. Compliance varies based on the country, the industry and the size of the company, with some industries such as banking being more heavily regulated than others. Data Protection Act 2018 is an example of a

Best From Suppliers
How To Get The Best From Suppliers?

How Do You Get The Best From Suppliers? Suppliers play a crucial role in the success of the majority of businesses, with 70% of the average company’s revenue being spent with third parties. Despite this, some companies end the procurement process when they sign a contract and begin working with a new supplier. Apart from purchasing

Compliant Suppliers
Are You Working With Compliant Suppliers?

Are You Working With Compliant Suppliers? Every company is obliged to comply with laws and regulations. The amount of compliance varies by country, industry and size of company, with some industries such as banking more highly regulated than others. An example of a law is the Data Protection Act 2018 that every company must comply

Do You Measure Supplier Performance?

Do You Measure Supplier Performance? Your company has spent a lot of time and effort to run a competitive tender process, negotiated a good deal, signed the contract and implemented the new supplier. For some this is where the idea of the procurement process stops and the supplier is just left to get on and

Supplier relationship management
The Ultimate Guide To Supplier Relationship Management (SRM)

The Ultimate Guide To Supplier Relationship Management (SRM) Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a key factor in a

How Do You Manage Supplier Relationships?

How Do You Manage Supplier Relationships? It’s a simple fact that suppliers are an essential part of every business, with 70% of the average company’s revenue being spent with third parties.  Despite this, for some companies the procurement process ends after signing a contract and starting to use a new supplier. Usually, the only time

Supply Management
What Is Supplier Management?

What Is Supplier Management? Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a key factor in a

Company Values
Do Your Suppliers Share Your Values?

Do Your Suppliers Share Your Values? Whenever we purchase any good or service the first two things that we usually consider are the quality and the price. Our perception of both tells us whether what we are purchasing offers us value for money or not. The idea of what value for money looks like varies

Supplier-chain management
Improve Your Supply Chain Performance With These 5 Tips

Improve Your Supply Chain Performance With These 5 Tips When it comes to successful procurement, having a steady supply chain is a crucial element. Supply chain managers are tasked with optimising efficiency strategies as the business climate evolves and as the company grows.  Every stage of the supply chain must be thoroughly evaluated and monitored

supplier management agreement
How to Build Meaningful Relationships With Your Suppliers

How to Build Meaningful Relationships With Your Suppliers Working with the suppliers who provide goods and services to your company is essential for the smooth and successful running of your business. This is why supplier relationship management (SRM) is so important.  While choosing cost-effective suppliers and maximizing the value of your relationship with them sounds

Supplier Management Solutions
How Supplier Management Solutions Can Help Your Business

How Supplier Management Solutions Can Help Your Business The growth and sustainability of any business is directly linked to the success of its supply chain. Building and managing one can be incredibly complex, mainly for procurement teams. This is especially true if you don’t know where to start expanding. It’s also possible that any spend

procurement purchasing software
3 Reasons Supply Chain Visibility Is Essential

3 Reasons Supply Chain Visibility Is Essential Supply chain management has become more complex over the years as it expands to more locations all over the world. Delivering to locations across the globe has made products much more accessible, but it also comes with its own set of challenges. With these logistical difficulties, it is

Procurement software global
What to Look for in Vendor Management Software

What to Look for in Vendor Management Software In this fast-paced society, having vendor management software to support your business can bring the convenience and efficiency you need to grow. With numerous online procurement management systems available in the market today, finding the best solution for your business needs is not always easy. Getting another

Software oboloo blog
4 Steps For Selecting The Right Software For Your Business

4 Steps For Selecting The Right Software For Your Business 4 Steps For Selecting The Right Software For Your Business Choosing software for your business can be exciting, but it can be extremely stressful if you don’t really know what you need. There are a lot of options to choose from and selecting the right

Supplier Audit
3 Benefits of Adopting Supplier Management for Your Business

3 Benefits of Adopting Supplier Management for Your Business 3 Benefits of Adopting Supplier Management for Your Business SME’s and enterprises usually require many suppliers in order to operate efficiently and grow. This means you are more likely required to conduct supplier onboarding and vetting, which is the process of gathering data and documents needed

oboloo software blog
What To Look For In A Contract Or Supplier Management Software

What To Look For In A Contract Or Supplier Management Software Contract management software used to be for record-keeping or legal auditing purposes only. Today, though, management software have become enterprise-level solutions. Since organisations are always looking for ways to minimise costs and risks while maximising revenue, streamlining processes has become a need rather than

oboloo supplier blog 2
Shortcuts taken in UK supplier vetting – 31% of third parties considered “high-risk”

Shortcuts taken in UK supplier vetting – 31% of third parties considered “high-risk” A third of all new supplier onboarding tackled in the UK over the last 12 months wasn’t executed by the book, according to a new Dow Jones report. Half of procurement professionals surveyed by the company believe that corners are being cut

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